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Gas price hike needed as domestic output down sharply: Chidambaram

New Delhi, June 28: Finance Minister P. Chidambaram has said a hike in gas prices was necessary because domestic production has declined sharply.The decline in domestic production has resulted in a rise in import of
gas price hike needed as domestic output down...
PTI June 28, 2013 11:38 IST
New Delhi, June 28: Finance Minister P. Chidambaram has said a hike in gas prices was necessary because domestic production has declined sharply.



The decline in domestic production has resulted in a rise in import of LNG, the Finance Minister said.

Domestic gas production would go up if investments were made; currently no investment was being made in gas production, Chidambaram said.

New gas prices would come into force from April 1, 2014, the Finance Minister said.
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